Used car prices are expected to rise in 2026, Cox reports

DETROIT – Used car prices are expected to rise this year but at a historically stable rate, according to auto data firm Cox Automotive.

Cox on Thursday predicted wholesale prices on the Mannheim Used Vehicle Value Index would end this year 2% higher than December 2025. The index tracks the prices of used vehicles sold at wholesale auctions in the United States.

This year’s increase compares to increases of 0.4% over each of the past two years following declines of 7% and about 15% in 2023 and 2022, respectively, from price inflation during the Covid-19 pandemic. Used car prices rose during that period at historically high rates, reaching 46.6% in 2021 and 14.2% in 2020.

The overall price stability is a win for potential car buyers. However, used car prices are still higher than before the pandemic. Retail prices to consumers typically track changes in wholesale prices, but they have not fallen as quickly as wholesale prices in recent years.

The average move of the index at the end of each year represents an increase of about 2%, according to Cox data going back to 1998. This excludes the distant years 2021 and 2022.

Price will fluctuate from month to month due to seasonality of sale and other factors. Cox said the regular monthly movement in the index during the year is only 0.2%.

“As we move into 2026, some positive signs are emerging: New and used auto loan rates have fallen to the lowest level in a year, and consumers will soon see an increase in tax refunds hitting their wallets,” said Jeremy Robb, interim chief economist for Cox Automotive. “As this happens, we expect to see stronger demand in the automotive market as the year begins.”

Used car sales are expected to decline year over year by 0.9% to 38.3 million in 2026, according to Cox. This forecast includes 20.3 million retail used vehicle sales, a decrease of 0.7%.